American Lithium Reports 5.53 Million Tonnes Measured And Indicated Resource At Falchani
Substantial tonnes of lithium carbonate equivalent have been added to American Lithium’s (TSXV: LI) mineral resource estimate at its Falchani lithium deposit in Peru. The update to the estimate, which was originally issued in March 2019, was conducted as part of an ongoing preliminary economic assessment being conducted.
The new resource estimate consists of 1.01 million measured tonnes of LCE, 4.52 million tonnes of indicated LCE, and 3.99 million tonnes of inferred LCE, based on a 600 ppm lithium cut-off. The measured and indicated resource represents an increase of 476% from the 2019 estimate, however the cut-off level was lowered from the prior 1,000 ppm.
“Falchani is now one of the largest hard rock lithium projects globally with the ability to produce high purity battery grade lithium carbonate. The inclusion of potassium, cesium and rubidium in the resource block model provides the opportunity to include Sulfate of Potash (SOP) and Cs-Rb potential by-products into future financial modelling of Falchani,” commented Simon Clarke, CEO of American Lithium on the results.
The expanded resource estimate is based on 3,075 metres of additional drilling conducted at the project since the last estimate, with total drilling now standing at 12,317 metres.
A complete preliminary economic assessment for the project is anticipated to be released in November.
American Lithium last traded at $1.45 on the TSX Venture.
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